TAX

In regards to capital gains from a short term investment, I assume that will simply get taxed at MTR right? I've had someone in my ear telling me CG for assets held less than 45 days will be taxed at 40% (says he heard it through a broker of some sort), but that sounds silly, hoping someone could clarify. I understand assets held for 12mth+ get 50% discount, just curious about that 40% 45 day statement.

Cheers,
A young & new investor